Gartner has reported that, international sale of Apple Inc. (NASDAQ:AAPL) smartphones increased 23.2% on yearly basis to 20.3 million devices in the third quarter. The increase in smartphone sale is mainly due to popularity of iPhone 5s internationally.
T. Michael Walkley, who is analyst at Canaccord Genuity, has revealed in his note that his team restated their rating for the firm as Buy, with a share price target of $580, however the analyst firm also boosted their estimates, which is also due to better iPhone 5s sales during the month October and November. The smartphone maker has also improved its supply line as demand remains strong for its devices.
Due to these better demands and supply levels, the analyst firm slightly boosted the smartphone maker’s fourth quarter estimate as well as financial year 2014 iPhone devices estimates and ASPs.
Mr. Walkley also added that November research report support better initial iPad Air sales, however the company iPad Mini with better retina display encounter supply chain issues that is also expected to persist in first quarter of 2014. Due to which the firm has change its first quarter 2014 sale of iPad mini unit from 12.8 million units for $454 per units to 13.5 million for $465 per unit.
Canaccord Genuity, also expect the December quarter will be more favorable for the sale of the smartphone maker’s iPad, iPhone, towards the higher-ASP iPad Air and iPhone 5s against iPad mini and iPhone 5c. During financial year 2014 and 2015 the analyst firm believe TD-LTE iPhone launch with the globe’s biggest carrier China Mobile Ltd. (ADR) (NYSE:CHL) could boost its March quarter sales and counterbalance several of the post-holiday seasonal development in western markets. Apple Inc. (NASDAQ:AAPL) share increased 1.33% to $527.56 in current trading session.
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